Data is growing increasingly important for the world, and today’s businesses rely on data to formulate marketing, sales and customer service strategies. Companies all around the world leverage new and advanced techniques to make use of data that is available to them.

Data is crucial for the growth of businesses irrespective of the industries they belong to. A study by the University of Texas revealed that companies couldgain 14.4% in productivity from every employee if they boosted their data usability by just 10%. Large enterprises are only now realizing that they have been sitting on a mountain of gold without ever knowing about it.

Across the globe businesses, regardless of their size and customer base, are faced with tightening competition, increasingly savvy customers, and—simultaneously—an explosion in the amount of data to manage.

C-suite executives find that time is not on their side when it comes to developing strategic solutions to these threats. They also find that overcoming these threats requires moving beyond legacy systems that only juggle these balls in the air without significantly advancing the company objectives.